Petrobas' Well Confirms Franco Area Potential

Petrobras announces that the first well drilled after the execution of the Transfer of Rights agreement confirmed the extension of the oil reserves located northwest of the Franco area discovery well, in the Santos Basin pre-salt cluster.

The new well, referred to as 3-BRSA-944A-RJS (3-RJS-688A), informally known as Franco NW, is at a water depth of 1860 meters, approximately 188 km from the city of Rio de Janeiro and 7.7 km northwest of discovery well 2-ANP-1-RJS (Franco).

The discovery was confirmed by oil samples of good quality (28º API) obtained through cable tests. Sample collection started at 5460 meters, in carbonate rock reservoirs of similar thickness as those registered in the discovery well.

The well is still in the drilling phase with the aim of reaching the base of the reservoirs containing oil. Once the drilling phase is complete, Petrobras will continue with the investment activities provided in the Mandatory Exploratory Program (Programa Exploratório Obrigatório, PEO) of the Transfer of Rights agreement, including the acquisition of 3D seismic data that is already underway in the area.


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None named | Nov. 11, 2011
We well have to see... But it seems like a deep reserve that could cone out... What is the projected size and projected return on the reserve?

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